Course

Real Estate Accounting

Faculty
Commerce & Business Administration
Department
Accounting
Course code
ACCT 3550
Credits
3.00
Semester length
15 Weeks
Max class size
35
Method(s) of instruction
Online
Hybrid
Lecture
Seminar
Course designation
None
Industry designation
None
Typically offered
To be determined

Overview

Course description
This course provides introduction to real estate accounting. Topics include accounting principles related to real estate, financial analysis, project development costs and revenue recognition. In addition, the course explores different organizational structures, financial statement presentations and accompanying disclosures. Student will use computer software for project costing, budgeting and variance analysis.
Course content
  • Forms of real estate organizations 
  • Accounting for operating property revenues and expenses
  • Operating expense reconciliation and recoveries
  • Lease incentives and tenant improvements 
  • Budgeting for operating properties 
  • Variance analysis 
  • Real estate valuation and investment analysis 
  • Accounting for real estate investments and acquisition costs 
  • Accounting for project development costs on GAAP basis 
  • Real estate development revenue recognitions 
Learning activities

Lecture and/or seminar

All methods of instruction apply to in class, hybrid and/or online modes of learning.

Means of assessment

Assessment will be in accordance with the Douglas College Evaluation Policy.

Assignment(s) and/or test(s)

 10%-20%

Term project (s)

 10%-30%

Midterm Examination

 20%-30%

Final Examination      

 30%-40%

 

       100%

Students must write the midterm examination and the final examination to obtain credit for the course. 

Learning outcomes

At the end of the course, the successful student should be able to:

  • Evaluate forms of Real Estate Organizations.
  • Analyze operating property revenues  and expenses.
  • Prepare operating expense reconciliation and recoveries.
  • Identify lease incentives and tenant improvements.
  • Prepare budgets for operating properties and perform variance analysis using a computer software.
  • Prepare estate valuation.
  • Analyze investment and related acquisition costs.
  • Prepare and record project development costs and revenue recognitions when performance obligation is satisfied over time. 
Textbook materials

Real Estate Accounting Made Easy. Obioma A. Edisike. Latest Edition

OR other textbooks as approved by the Accounting department.

AND Instructor selected material relevant to real accounting under CPA Handbook.

 

Requisites

Prerequisites

ACCT 1210 OR ACCT 1235 with a minimum grade of C

AND ACCT 2320 with a minimum grade of C

OR

ACCT 3008 with a minimum grade of C

OR currently active in: PDD Accounting

Corequisites

No corequisite courses.

Equivalencies

No equivalent courses.

Course Guidelines

Course Guidelines for previous years are viewable by selecting the version desired. If you took this course and do not see a listing for the starting semester / year of the course, consider the previous version as the applicable version.

(Current)

Course Transfers

These are for current course guidelines only. For a full list of archived courses please see https://www.bctransferguide.ca

Institution Transfer details for ACCT 3550
Acsenda School of Management (ASM) ASM GEN 3XX (3)
Alexander College (ALEX) ALEX COMM 2XX (3)
Athabasca University (AU) AU ACCT 2XX (3)
Camosun College (CAMO) CAMO ACCT 3XX (3)
Capilano University (CAPU) CAPU BADM 3XX (3)
Coast Mountain College (CMTN) CMTN BADM 1XX (3)
College of New Caledonia (CNC) CNC ACC 2XX (3)
College of the Rockies (COTR) COTR ACCT 2XX (3)
Fairleigh Dickinson University (FDU) FDU ACCT 1XXX (3)
Kwantlen Polytechnic University (KPU) No credit
LaSalle College Vancouver (LCV) LCV BUS 2XX (3)
Thompson Rivers University (TRU) TRU ACCT 3XXX (3)
University Canada West (UCW) UCW ACCT 3XX (3)
University of Northern BC (UNBC) UNBC COMM 2XX (3)
University of the Fraser Valley (UFV) UFV BUS 3XX (3)
Yorkville University (YVU) No credit

Course Offerings

Winter 2025

CRN Days Instructor Status
Maximum seats
35
Currently enrolled
35
Remaining seats:
0
On waitlist
29
Building
Online
Room
ONLINE
Times:
-
Section notes

This is an online asynchronous course. This class will have no scheduled meeting times.